Advisor Workstation Quick Start Guide

Transcription

1 SM Morningstar dvisor Workstation Morningstar dvisor Workstation provides financial advisors with tools for security research, portfolio analysis, and sales presentations. This is designed to get you up and running quickly, taking you through the basics of researching investments, building sales illustrations, and generating some of our most popular reports. Use this guide to familiarize yourself with dvisor Workstation. Then, take advantage of the additional training resources (provided on the last page of this guide) to explore the tool in more detail. Morningstar offers a variety of training opportunities to make your experience with dvisor Workstation as productive as possible Morningstar, Inc. ll rights reserved. Product specifications are subject to change without notice. Revised 10/2011

2 1 Navigation Basics and the Home Page When you open dvisor Workstation, you are brought to the Home Page. To the left is the Navigation Pane. The Navigation Pane provides access to all modules and subfolders available in dvisor Workstation. You can also access the modules by using the tabs across the top of the screen. The various features and functions for dvisor Workstation can be accessed by using the menu bar at the top of the screen or the widgets on the Home Page. The menus are universal, meaning the selections remain constant across modules. The Home Page consists of widgets offering direct access to many areas of dvisor Workstation. They can also tell you about your practice and the market. You can rearrange the position of each widget on the Home Page and you can click the arrow in the upper-right corner of each widget to collapse (or expand) it. The Quick Start widget gives you one-click access to some of the more frequently used functions in dvisor Workstation, such as creating client records or generating a security report. The Recently Modified Files widget gives you convenient access to the last 25 saved files you accessed.

3 Morningstar dvisor Workstation 2 SM Navigation Basics and the Home Page When you are working in a module, the drop-down list on the far left side of the toolbar gives you access to the subfolders available for that module. The drop-down list to the far right of the toolbar gives you access to saved lists and searches for the subfolder (Clients, Portfolios, Mutual Funds, Stocks, etc.) you are viewing. From the File menu, you can set Preferences to change the number of rows displayed on your screen, select whether to automatically reset a universe after a search, or change the interface font size. Setting Preferences Click here to view the available folders and subfolders. B Click here to select among your saved lists and searches. B

4 3 Research Module To view the Research Module, either click on the Research tab at the top of the screen, or use the lefthand Navigation Pane to select a universe. Find by Name, Fund Code, or Ticker To find an item by its name, keyword, fund code or ticker symbol: 1 On the toolbar, use the Find drop-down to indicate if the system should seek the Exact Match of the search item(s). Exact Match is particularly helpful if you are searching for fund codes or ticker symbols. (See the sidebar for information on what to enter when conducting an Exact Match.) 2 Click in the Search field and type the name, keyword(s), fund codes, or ticker symbols. Click Go or press <ENTER> on your keyboard to execute the search. You can look for multiple items by separating them with a comma. Search by Criteria You can enter as many criteria as you need. Use the OR relationship between rows for a more inclusive search; use the ND relationship between rows for a more restricted search. Use the parentheses when specifying multiple values for the same criterion. To create a search based on characteristics you define: 1 From the Tools menu, click Search by Criteria. 2 Look for criteria By View or lphabetically. You can enter as many criteria as you need. 3 Click Run Search to see the number of securities matching your criteria. 4 Click OK to see the results displayed in the spreadsheet. Search by Criteria * The Exact Match search seeks the identifier corresponding with the type of investment you are searching for. If an investment has a fund code or ticker symbol, search for the fund code or ticker symbol. If an investment does not have a fund code or ticker symbol, look for an item s full name, punctuation included. *

5 4 Research Module Save a Search Each user can save up to 100 searches in the Search By Criteria dialog box. These searches are dynamic, and the results could change each time you view one in dvisor Workstation. To save a search: 1 On the Search by Criteria dialog box, click Save. 2 In the Existing Searches dialog box, name the search, then click OK. The name of the search now appears at the top of the Search by Criteria dialog box. Searches can be retrieved from the left-hand navigation pane, or from the Saved Lists and Searches drop-down field in the toolbar at the top of the screen. Save a List Each user can save up to 100 lists and each list may contain up to 500 items from any research universe. Note that lists are static, and do not change over time, unless you decide to manually add or remove items. Lists can be retrieved from the left-hand navigation pane or from the Saved Lists and Searches drop-down field in the toolbar at the top of the screen. To save a list of items: 1 Select the items to include in a list. 2 Either right-click on any highlighted item or, from the File menu, select New List. 3 In the List dialog box that appears, name the search. 4 Below the Total Search Results field (which is populated with your selections), click dd ll. 5 fter the investments appear in the Items Selected for List area, click Save. Create and Save a New List

6 5 Research Module Create a Custom View Several pre-built views with selected columns of data are available for each Research Module data universe. You can access these views by clicking the View dropdown menu above the spreadsheet area. ny of these spreadsheet views can be made into a custom view. Custom Views are created either by dragging and dropping columns into place in a pre-built view, or by selecting and ordering data points in the Custom View dialog box. Up to 100 custom views can be created; each one can contain up to 100 columns. To create a custom view using the data points from a pre-built view: 1 Drag and drop the columns by the column header to the desired area. 2 From the View menu, select Save as Custom View. 3 In the Custom View dialog box, name the view and click Save. 4 To display a custom view, go to the research universe the custom view was created for, and select its name from the View drop-down list on the toolbar. Drag and Drop Save a Custom View Click here to access other views, including saved custom views.

7 6 Research Module You can also select data points from any view to construct your own custom view. To create a custom view from scratch: 1 From the File menu, select New Custom View. 2 In the Custom View dialog box, name the view. 3 In the Select View drop-down field, select ll Data Points. 4 Highlight one or more data points and click the right arrow to populate the Selected field. 5 Use the up or down arrows to change the position of the data points. The data points listed top-tobottom are displayed left-to-right in the spreadsheet view. 6 Click Save. Close the dialog box. Set a Default View You can set a custom view as the default view for a universe. Each time you go to that universe, the default view will appear automatically. To set a default view: 1 From the View drop-down list, select the name of the custom view you want to use as the default view. 2 From the View menu at the top of the screen, select Set as Default View. Create and Save a Custom View from Scratch Click here and select ll to see every data column available for a universe.

8 7 Clients & Portfolios Module The Clients & Portfolios module allows you to manage your clients and their holdings. You can see not only a list of all clients at once, but also all of their portfolios. You can combine clients into Groups for householding and you can also create custom benchmarks in this module. Create a Client You can create up to 1,000 clients. To create a new client: 1 From the File menu, select New Client. 2 In the Client File window, enter the client s data in the fields in the General Information tab (only the First Name and Last Name are required). 3 The Contact Information tab is optional, but allows you to conduct searches on this additional information. 4 Click Save, then close the Client File dialog box. Create a Client

9 8 Clients & Portfolios Module Create a Portfolio Two different kinds of portfolios can be created for a client: a fixed-value portfolio, which does not change over time, and a floating-value portfolio that changes value as the market prices of the holdings fluctuate. You can create up to 150,000 portfolios across all clients. To create a new portfolio: 1 From the File menu, select New Portfolio. The Morningstar Quick Portfolio window appears. 2 On the Investments tab, use the Select Universe drop-down field to choose the type of security you want to find, then enter the name, fund code or ticker symbol for those investments. When searching by name, type at least four letters to find securities containing the text string you entered somewhere in the security s name. If you use three or fewer letters, the system will look only for securities beginning with the text string you enter. 3 To include a security in the portfolio, click once on its name in the Total Search Results area to select it, then click dd. 4 Repeat steps 2-3 until all securities for the portfolio appear in the Investments Selected area. 5 Click the llocate tab and complete the allocation; you can allocate by dollars, shares or percentage. 6 Click the nnual Fees tab and enter any fees that will be charged for managing the portfolio. 7 Click the ttributes tab to further customize and identify the portfolio. When Floating allocation is selected, the portfolio values will fluctuate as the prices of the holdings change. For model portfolios, you can also select Fixed allocation, in which case the dollar value of the portfolio is static. 8 The Report Options tab allows you to connect a benchmark to the portfolio and customize the portfolio report. 9 To save the portfolio, click Save at the top of the window. 10 Select the To Client option and type the name of a client in the field to the right. The intelligent search will bring up likely results as you type; select the name you want. To assign a portfolio to more than one client, type the other client name in the field directly to the right. 11 Type a name for the portfolio and click OK. Create a Portfolio To select multiple, non-consecutive items (as shown in the screenshot), hold down the <CTRL> key while clicking on each security. To select multiple consecutive items, hold down the <SHIFT> key while clicking on the first and last items of the group you want to select. B The Save window allows you to save the portfolio as a Model, to a Group, or to Clients. B

10 9 Hypotheticals Module Create a Hypothetical Illustration When creating a hypothetical illustration, you can use a client s existing portfolio, a saved list of securities, or the results from a saved search. You can also manually enter holdings and values. hypothetical illustration can include up to 40 investments and contain multiple security types (mutual funds, ETFs, stocks, etc.). To create a hypothetical illustration: 1 From the Tools menu, click Hypothetical. The Morningstar Hypothetical Illustration window appears. 2 On the Investments tab, use the Select Universe drop-down field to choose the type of security you want to find, then enter the names or ticker symbols for the investments. 3 Click Find. Matching securities will appear in the Total Search Results area. 4 To include a security in the Illustration, click once to select it, then click dd. 5 Repeat steps 2 4 until all securities for the portfolio appear in the Investments Selected for Illustration area. 6 Select the Buy/Sell tab to enter the Initial Investment, Time Period, Subsequent Investments or Withdrawals, Upward djustments, and any Transfers from one security to another you want to illustrate. 7 The Reinvest/Rebalance tab allows you to edit those two attributes. 8 The Fees tab allows you to enter standard, custom, or asset-based fees for the illustration. 9 The Report Options tab allows you to choose the Report Type (either Portfolio, Individual Holdings, or Comparison) and to pick the reports you want to include in the illustration. 10 t the top of the window, click Generate Report to create the hypothetical illustration. Create a Hypothetical Illustration Not every tab in the window needs to be used to create an illustration; use only those tabs that are relevant to your scenario.

11 10 Generating Reports Security and Portfolio Reports number of reports are available in dvisor Workstation for both securities and portfolios. Both Security Report Builder and Portfolio Report Builder allow you to generate multiple reports at once. You can also generate a report for an individual security or portfolio by right-clicking the item in a spreadsheet view, and selecting the report you want to see from the right-click menu. You can include up to 250 securities when using the Security Report Builder. To generate reports for securities: 1 From the Reports menu, select Security Report Builder. 2 On the Investments tab in the Security Report Builder window, use the Select Universe dropdown field to choose the type of security you want to find, then enter the names or ticker symbols for the investments. 3 Click Find. Matching securities will appear in the Total Search Results area. 4 To include a security in the portfolio, click once to select it, then click dd. 5 Repeat steps 2 4 until all securities appear in the Investments Selected for Illustration area. 6 Click the Report Options tab. This tab allows you to choose which reports are included in the PDF. 7 t the top of the window, click Generate Report. Security Report Builder Use the up and down arrows to specify the order of the reports.

12 11 Generating Reports You can include up to 250 portfolios when using the Portfolio Report Builder. To generate reports for client portfolios: 1 From the Reports menu, select Portfolio Report Builder. 2 On the Investments tab in the Portfolio Report Builder window, use the Select Universe dropdown field to choose either a client s portfolio or a model portfolio. 3 Enter the name of a client or a model. 4 Click Find. 5 When searching for a client, a Portfolios dialog box appears. Click once on the name of the client whose portfolios you want to see, then click once on the name of the portfolio(s) to include. When looking for model portfolios, those matching your search string will appear in the Total Search Results area. To select multiple portfolios for a client, use <CTRL>+click or <SHIFT>+click. 6 To include a portfolio, click once to select it, then click dd. 7 Repeat steps 2 6 until all portfolios appear in the Investments Selected area. 8 Click the Report Options tab. This tab allows you to choose which reports are included in the PDF, and how you want to aggregate the reports when working with multiple portfolios or models. 9 t the top of the window, click Generate Report. Portfolio Report Builder To include more information on the output report about your practice, such as your street address, or phone number, click the dditional Information button.

13 12 Using the Virtual Training Center The Virtual Training Center provides a wealth of information covering the capabilities of dvisor Workstation, along with access to Morningstar methodology documents, and recorded versions of our Expert Series webinars featuring Morningstar analysts. Taking advantage of these resources will help make you an expert user of dvisor Workstation and enable you to better serve your clients. The Training Videos widget provides five- to 10- minute Flash-based videos, each covering a specific topic. You can use the drop-down menu at the top of this widget to select videos related to different modules (Research, Clients & Portfolios, etc.). The Training Manuals widget contains links to PDF files with step-by-step instructions on how to use different features in dvisor Workstation. The Live Web Sessions widget allows you to see when the next webinar is scheduled for each module s class. You can elect to register for a class, or watch a recording. Each session lasts minutes. Virtual Training Center Widgets Click here to see content for other modules.